In 2017, President Trump's major tax cut included a cut in the corporate tax rate from:
A. 35 to 22 percent.
B. 29 to 24 percent.
C. 48 to 23 percent.
D. 50 percent to zero.
Answer: A
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What is an economy?
What will be an ideal response?
Suppose your grandfather earned a salary of $12,000 in 1964. If the CPI is 31 in 1964 and 219 in 2016, then the value of your grandfather's salary in 2016 dollars is approximately
A) $84,775. B) $63,830. C) $37,200. D) $26,280.
Which of the following is not a characteristic of the structure of perfectly competitive markets?
a. Each individual firm is small in size relative to the overall market. b. Few sellers. c. Homogeneous product. d. Easy, low cost entry and exit.
In a market for used cars, if the minimum supply price for plums is lower than consumers' willingness to pay for a lemon, only plums will be supplied at the consumers' willingness to pay for a lemon.
Answer the following statement true (T) or false (F)